A lack of diversity at senior level could be stunting growth and innovation in Scotland’s financial sector.
That’s according to Core-Asset Consulting’s latest Industry Trends and Salary Guide, which suggested there is still a way to go before balanced senior teams become the norm in the sector.
The report found that leadership teams consisting mostly of those from privileged backgrounds are not necessarily meeting the needs of their end-users.
Betsy Williamson, founder of Core-Asset Consulting, said: “Socio-economic diversity is a relatively new concept for many of our clients in the professional and financial services sector.
“Only in the last year or so have we started to see real interest from clients to consider someone’s social status as a factor when it comes to shortlisting and the talent pipeline.
“Whether or not this can be attributed to greater ESG focus, it is without a doubt, a positive shift and an area that will grow throughout this year.”
The ninth annual edition of the guide sets the stall for salary reviews in Scotland’s financial services sector, which usually happen during March and April.
Williamson added: “This year’s guide particularly highlights persisting challenges like recruitment shortages, gender gaps and economic uncertainty.
“However, it’s not all doom and gloom, it’s clear from our research that Scotland’s strengths as a global financial hub is continuing to attract top talent.”
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